Stripe, SpaceX Investor Glade Brook Raises $515 Million New Fund

Glade Brook Capital Partners — an investment firm with stakes in SpaceX, Perplexity and other startups — has raised $515 million from investors for its fourth fund.

The firm, which backs late-stage tech startups, expects to continue to invest in companies in industries including financial technology, artificial intelligence, e-commerce, space and defense. Founded in 2011, it previously backed Uber Technologies Inc. and Airbnb Inc.

Even though the fundraising was oversubscribed and the fund size grew, founder Paul Hudson said the investing climate was difficult. It’s “the most challenging fundraising environment that I’ve seen in my career,” Hudson said. Many investors have recently struggled to raise more capital amid ...